Economy & Finance

May jobs report shows moving in right direction: Krueger

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WASHINGTON (Reuters) – The economy is headed in the right direction but more needs to be done to speed up the recovery and put more people back to work, a top White House economic adviser said on Friday.

“There is a lot more of work to be done, given how many jobs were lost during the Great Recession,” Alan Krueger, chairman of the Council of Economic Advisers told CNBC television.

Employers added 175,000 jobs to their payrolls in May, up from a gain of 149,000 in April, the Labor Department said on Friday. The unemployment rate rose a tenth of a percentage point to 7.6 percent as more people entered the labor force.

(Reporting by Lucia Mutikani- Editing by James Dalgleish)

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